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OPG has set up a fund to help pay the expenses for the monitoring of Pickering nuclear power plant once it is in safe storage. The balance in the fund today is $700 million, and it will earn interest at 7% compounded annually. Starting 10 years from now, $100 million will be withdrawn from the fund at the beginning of every year for 30 years. What is the annually compounded interest rate for the fund during the final 30 years?
Working
The act of engaging in employment or exerting effort towards the production of goods and services in exchange for wages or salary.
Looking For Work
The process engaged in by individuals who are actively seeking employment opportunities but are currently unemployed.
Poverty Line
The minimum level of income deemed adequate in a particular country for individuals to cover basic needs of living.
Welfare Rolls
A term referring to the list or number of individuals receiving government assistance for living expenses due to economic hardship.
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